What is Zcash?
Zcash
Zcash is a fairly new cryptocurrency that stemmed from Bitcoin. It is known for being able to make untraceable transactions. It accomplishes this using "zero-knowledge proofs." Normal cryptocurrency exchanges, such as Bitcoin, can be easily traced on the Blockchain to and from each virtual wallet. Zcash uses a very advanced method to encrypt each transaction.
There is controversy about how Zcash will be distributed. The organization is set up like a company. There is a tax on the mining rewards called the founder's reward. Looking at their policy, some basic math shows that the investors and workers of the company will end of with 10% of the total supply. This is a huge chunk!
Are the creators of Zcash being a little bit too greedy with their chunk of the wealth? You guys tell me what you think in the comments.
Here are a few sources. Click on the links if you would like to read some more about Zcash.
- http://futurism.com/so-what-is-zcash-all-about/
- https://www.cryptocompare.com/coins/guides/what-is-zcash/
Interesting post with remarkable aspects :-)
Thanks a lot!
Untraceable transactions is an open gate for mafia washing money. I don't want to participate to such a thing.
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